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Student Roost Snaps up Two Schemes

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Student Roost has signed a forward-funding agreement with developer Watkin Jones for the delivery of two new purpose-built student accommodation (PBSA) schemes in Bristol and York.

Acquired from Summix Capital for £70 million the deal includes a 291-bed property in Unity Street, Bristol, as well as a 368-bed scheme at Frederick House in York.

Construction work is due to begin on both projects this month.

Stephen Rigby, chief investment officer at Student Roost, said: "It's fantastic news that we've been able to agree this deal with Summix Capital and Watkin Jones, particularly in the current environment."

"It's another vote of confidence in our business and the PBSA sector from our investors Brookfield and our lenders Investec."

"York is a very strong market for us, Bristol has been a long-standing target market, so we're pleased to acquire the sites, and we're looking forward to working with Watkin Jones again."

"We think the completed developments will work very well in these locations, particularly with the wide range of affordable accommodation options that we'll be offering."